timwest

S&P500 Index SPZ2014 - Futures - Daily

CME:SPZ2014   S&P 500 FUTURES
938 12 19
The S&P500             is lifting back to 6-days of supply that starts right here.

This is also the same size of rally that we had from the August low to the September high.

I had to scrunch the time down, but the price move is identical.

1960 is where 9-days of time = the maximum supply level

Just information for you.

Tim
3:55PM EST 10/21/2014
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Tim: Just curious as to why your 'Time at Price" only includes the days spent at that price during the recent swing down from the ATH? For example, the top box (of 3 days) contains many days at that price level during the second half of August.
Appreciate the clarification as I would not have identified the ~$1,960 level but rather something like the $1,980-$1,990 level. Thanks.
Reply
I only count days in the current trend - and thanks for the question. Since the 9-days are at the 1960-1965 level and the market is below that mode (at the time of the the chart), then the market is telling you the price that is controlling the market. The end of the day on this chart, there will be 9-days at the 1935-1940 area, so that means the mode is below the current price, which makes the market stuck in a range between 1960-1965 upper end and 1940-1935 lower end. I'll update the chart so you can see.

The way I calculate trend is to only use the data FORWARD from the Trend Origination (in this case, the ATH on the chart at 2012+).

+1 Reply
Very helpful explanation. Thank you for posting it.
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Chart
snapshot
+1 Reply
Almost reached the RED ZONE
snapshot
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elcololp timwest
Are you going to short now?
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That will be a nice short zone with a tight stop 1960ish
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61% Fibonacci form high now? Nice moment to sell? what do you think?
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timwest PRO elcololp
I'm wondering as well. A rally of that magnitude does take a few days to stall out and then turn down. I've been shorting on the bounce, but I'll take them back in by the end of Friday and try again next week if there isn't meaningful downside action by Friday's close.
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elcololp timwest
Are you watching the pre market SPY IWM ? Strong... maybe the Europe growth numbers ?
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